Department of Insurance, Financial Institutions & Professional Registration
  • 28-Feb-2017 to 29-Apr-2017 (CST)
  • St Louis, MO, USA
  • $40,000-$77,239
  • Salary
  • Full Time

Missouri State Employees' Retirement System (Defined benefit plan), Major Health Insurance, Dental, Vision (provided for employees and available for families), Paid Life Insurance (amount equivalent to annual salary), Long-Term Disability Insurance, Cafeteria Plan, Deferred Compensation Plan, 12 paid holidays per year, 10 hours of annual leave per month, 10 hours of sick leave per month, Credit Union,


JOB OPPORTUNITY NOTICE
Insurance Financial Examiner I/II/III
STARTING ANNUAL SALARY: $40,000 - $77,239 (commensurate with education and experience)
TRAVEL: 25% - 55%
Full-time, benefited position
The Missouri Department of Insurance, Financial Institutions and Professional Registration, Division of Insurance Company Regulation, has a full-time position located in St Louis, Missouri.

The Insurance Company Regulation Division of the DIFP is responsible for the monitoring and analysis of the financial condition of insurance companies licensed in Missouri to ensure they can pay policyholder claims.  The Division is currently seeking applicants interested in serving the citizens of Missouri and protecting policyholders through the performance of the detailed analysis and examination of domestic insurance companies. 

 

This is a beginning through advanced level position for analysis, accounting, and auditing work.  This position participates in all phases of the risk focused financial examination of Missouri domestic insurers to determine solvency and statutory compliance.  DIFP examinations are substantially similar to traditional financial audits but also incorporate statutory compliance.  This position may also participate in the quarterly financial analysis, review of enterprise risk reports and own risk solvency assessment summaries of Missouri domestic insurers and serve as the DIFP's primary point of contact with the insurers. Onsite financial examination of insurance companies is usualy performed during four ten-hour work days.

 

The DIFP provides training and continuing education to ensure employees remain up to date on current risks affecting insurance companies.  Individuals starting at the Financial Examiner I level can progress to subsequent levels as noted below.  Additionally the DIFP provides numerous other benefits which can be found at  http://difp.mo.gov/jobs/

 

EXAMPLES OF WORK PERFORMED: (Duties and responsibilities may be added, deleted, or changed at any time at the discretion of management, formally or informally, either verbally or in writing.)

Participation in all phases of the analysis and examination of domestic and foreign insurers, including but not limited to:

Assessing effectiveness of corporate governance including interviewing executive level management
Evaluating risks and determining effectiveness of internal controls
Verifying asset ownership and valuation and liability adequacy
Confirming compliance with applicable laws and regulations and statutory accounting principles
Evaluating appropriateness of insurers' transactions and agreements with affiliates 
Analyzing financial statements and ratios of insurers 
Preparing written analysis and/or examination reports 
 

EXAMPLES OF REQUIRED KNOWLEDGES, SKILLS, AND ABILITIES:

Working knowledge of accounting and auditing theory
Adapt to a changing work environment   
Professional verbal and written communication skills
Gather and assimilate information from multiple sources efficiently and develop clear and concise conclusions
Strong organizational skills
Present clear and concise reports of findings and prepare accurate written reports
Work independently and use professional judgment in determining insurers' risks and evaluating risk mitigation strategies 
 

EXAMPLES OF PREFERRED KNOWLEDGES, SKILLS, AND ABILITIES:

Principles, methods, and procedures applicable to the insurance industry
State statutes and regulations affecting operations of insurance companies or holding companies
Structure and operations of insurance companies
National Association of Insurance Commissioners guidelines pertaining to operations of insurance companies
Working knowledge of ACL and TeamMate software a plus

EXPERIENCE AND TRAINING QUALIFICATIONS:

 

Financial Examiner I

Graduation from a four-year college or university with specialization (18 semester hours) in accounting or auditing. 

 

Financial Examiner II

Two years as Financial Examiner I in the Missouri Department of Insurance, Financial Institutions and Professional Registration or equivalent financial examination experience in another state insurance department.

OR

Four years of professional experience in public auditing/accounting work or private analysis, accounting, or auditing work; and graduation from a four-year college or university with specialization (18 semester hours) in accounting and auditing.  Possession of a Certified Public Accountant certificate with live permit may be substituted for up to two years of the general experience.  Graduate work in the referenced area may be substituted on a year-for-year basis up to two years for the general experience.

 

Financial Examiner III

Three years as Financial Examiner I and II combined in the Missouri Department of Insurance, Financial Institutions and Professional Registration or equivalent financial examination experience in another state insurance department.

OR

Six years of professional experience in public auditing/accounting work or private analysis, accounting, or auditing work and graduation from a four-year college or university with specialization (18 semester hours) in accounting and auditing.  Possession of a Certified Public Accountant certificate with live permit may be substituted for up to two years of the general experience.  Graduate work in the referenced area may be substituted on a year-for-year basis up to two years for the general experience.

 

NECESSARY SPECIAL REQUIREMENTS:

Successfully pass the Missouri Life and Health and the Missouri Property and Casualty Producers examinations within the first year of employment.
Attainment within the first two years of employment of the Associated Financial Examiner designation.
Attainment within the first three years of employment of the Certified Financial Examiner designation.
Employee must be domiciled in the location noted in the job posting.

 

 

 

Application Process:

 

If interested, please apply online at http://difp.mo.gov/jobs and view current job opportunities. Once on the webpage, complete the "Apply Now" information to the right, then click "Apply for this Position". This will direct you to the online application. You should also submit a current resume and any college transcripts by attaching the documents to the application. Please contact Human Resources with any questions at the telephone number or e-mail address listed below:

AN EQUAL OPPORTUNITY EMPLOYER

Department of Insurance, Financial Institutions & Professional Registration
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